The Economic Position of Zakat

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The importance of Zakat and its position as a very strong economic institution of Islam cannot be overemphasized. It’s one of the big and important sources of revenue in an Islamic. It’s one of the five basic pillars of our religion Islam.

Zakat is a form of financial worship that has been stressed by Allah (SWT) 83 times in the Holy Qur’an. Zakat as an institution plays an important role in the Islamic economic system. Zakat if enforced and implemented religiously will help in addressing most of our today ills of the society.

Zakat helps towards an equitable distribution of wealth among the Muslim Ummah where a lot of people belong to poor class would be supported. . Zakat is to be collected from the Business men and women, landlords, industrialists, farmers, cattle rearers and other rich persons of society and distributed to the poor and needy as ordained by Allah SWT.